Illinois residents are in for an unexpected financial surprise this summer, thanks to a program designed to return billions of dollars that rightfully belong to them.
The state’s Enhanced Money Match program, managed by the State Treasurer’s Office, is not your typical “stimulus payment,” but a unique initiative to return unclaimed funds to residents without requiring them to file a claim.
Illinois State Treasurer Michael Frerichs is clear about the legitimacy of these payments, saying, “The money belongs to you, the check is real and it is not a scam.” This program is part of the state’s Unclaimed Property program, known as I-CASH, which is one of Illinois’ most successful consumer protection programs.
How Does the Enhanced Money Match Program Work?
The Enhanced Money Match program is designed to automatically identify eligible individuals who have unclaimed property. Using advanced technology, the Treasurer’s Office cross-references data from other state agencies with its large database of unclaimed funds.
If your name and mailing address match any unclaimed property, you will be automatically identified as eligible.
Once your eligibility is confirmed, the state will send you a notification letter, followed by the check. No claim filing is needed on your part, making the process simple and hassle-free.
Who Is Eligible for a Deposit from the Enhanced Money Match Program?
The Enhanced Money Match program is focused on returning funds that are owed to individuals. These funds can include:
Forgotten bank accounts
Uncashed payroll or reimbursement checks
Unpaid life insurance benefits
Unused refund cards
If you’re a current or former resident of Illinois and have money that was previously unclaimed or forgotten, you are likely eligible for a surprise check from this program.
How Much Money Can You Receive?
This summer, Illinois is sending out a total of $45 million to nearly 600,000 residents through the Enhanced Money Match program, marking the largest unclaimed money distribution in U.S. history. Since it started in 2018, the program has already returned more than $130 million to over 870,000 people.
What If You Haven’t Received a Payment?
If you’re waiting for your check but haven’t received it yet, don’t panic. The Illinois State Treasurer is legally responsible for protecting more than $5 billion in unclaimed property. Whether it takes days or years, the Treasurer’s Office is committed to returning these funds to the rightful owners or their heirs.
However, the Enhanced Money Match program only covers the simplest claims. There are other types of unclaimed property, such as stocks, bonds, escrow accounts, and safe deposit box contents, that aren’t handled by this program.
If you suspect you might be missing out on unclaimed funds, you can visit the official I-CASH website to check for yourself.
Illinois’ Enhanced Money Match program is an innovative and efficient way for the state to return unclaimed funds to its residents, with no need for filing claims. If you’re a current or former Illinois resident, there’s a chance you could receive a surprise check.
Keep an eye on your mailbox and check the I-CASH website if you think you may be eligible. It could be your turn to receive some unexpected financial relief!
